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Buyers abandon homes in China city as prices fall

Thursday, August 21, 2014 - 06:00

[SHANGHAI] Falling property prices in China's eastern city of Wenzhou has triggered 6.4 billion yuan (S$1.3 billion) of bad loans as buyers abandoned homes and stopped making mortgage payments, the Economy & Nation Weekly reported. Purchasers of 1,107 properties halted payments as prices